The global power industry experienced a 59% decline in the number of cybersecurity-related patent applications in Q3 2022 compared with the previous quarter. The total number of cybersecurity-related grants rose by 9% in Q3 2022, according to GlobalData’s whitepaper on Cybersecurity in Power – Patenting Activity in Q3 2022.
Notably, the number of cybersecurity-related patent applications in the power industry was 128 in Q3 2022, versus 314 in the prior quarter.
Analysis of patenting activity by companies shows that Korea Electric Power filed the most cybersecurity patents within the power industry in Q3 2022. The company filed 18 cybersecurity-related patents in the quarter, compared with 12 in the previous quarter. It was followed by China Southern Power Grid with 15 cybersecurity patent filings, State Gridof China (10 filings), and Schweitzer Engineering Laboratories (5 filings) in Q3 2022.
The largest share of cybersecurity related patent filings in the power industry in Q3 2022 was in China with 30%, followed by South Korea (18%) and the US (12%). The share represented by China was 26% lower than the 56% share it accounted for in Q2 2022.